Retail Market Outlook to Remain Challenging on E-Commerce Disruption
PropertyGuru, Photo Credit to PropertyGuru
clock 04-05-2018
hit 471

With the disruption from e-commerce, the Malaysia Retailers Association expects the retail market to remain challenging over the coming years, reported The Edge.


"The market outlook can be very different from the current state. We may see a very different and changing landscape from the current situation. It depends on how the malls and the retail businesses will react to the millennial customers and the challenges from e-commerce" said MRA President Tan Sri William Cheng.

According to him, what the retailers need now is an improvement in consumer spending.

"When the economic growth is broad-based, more Malaysians will have higher take-home pay. High income means higher purchasing power" he explained.

"When take-home pay improves, consumers will have better confidence on their future prospect. This will lead to higher propensity to spend" said Cheng.

For him, successful retailers are the ones who can sell products via multiple channels, including physical stores.

Nonetheless, Cheng believes the sluggish local retail market will pick up following the general elections on 9 May.

"At the moment, the upcoming Malaysian general election maybe also one of the main reasons Malaysian consumers have been taking a wait-and-see attitude on their retail spending. Retail sale may rise after the official election campaign starts" he said at the one-day conference themed "Retail Transformation, Creativity and Beyond”.

"When campaigns begin, it will lead to many political and social activities throughout the country. This should motivate consumers to spend" he added.

"Post-election, consumers' spending is expected to improve further as Malaysians will focus on their own economic future and release the pent-up demand.”




WHAT DO YOU FEEL ABOUT THIS?

0
LOVE
0
HAPPY
0
SURPRISED
0
SAD
0
ANGRY


COMMENTS
Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment.

SIGN UP NEWSLETTER

logo
Monthly Column
The staple of your property-related materials. It's all about being ahead of the game and with The Column, you get carefully selected information that will keep you informed and running with the pack. The best news, articles and properties on the market from the Property Hunter portal, conveniently wrapped and ready, just for you.

logo
Weekly Window
Your weekly dose of what's hot and what's not in property. The window is your view into the realm of real estate in Malaysia, curated from our portal based on the most popular pieces over the week. For those who just can't get enough, this is for you. Ain't nobody got time for dailies anymore, weekly is the new daily.